Jourdan Acquires Adjacent Mining Claims

TORONTO, Nov. 21, 2022 (GLOBE NEWSWIRE) -- JOURDAN RESOURCES INC. (TSXV: JOR; OTCQB: JORF; FRA:2JR1) (“Jourdan” or the “Company“) is pleased to announce that it has acquired an additional 138 mining claims adjacent to its other lithium mining properties located north of Val d’Or, Quebec (the “Claims”). See Figure 1.

Figure 1. The green boxes represent the Claims; the red boxes represent Jourdan’s previously acquired mining claims in the vicinity of the Claims.

The Claims were acquired by the Company pursuant to a purchase and sale agreement among the vendors of the Claims and Jourdan. As consideration for the acquisition, Jourdan paid an aggregate cash payment of $50,000 and granted to the vendors net smelter return royalties affecting the claims transferred by such vendors ranging from 0.25% to 0.5%, payable up to a maximum of $1 million in the aggregate.

The acquisition is an arm’s length transaction for the purposes of the policies of the TSX Venture Exchange (“TSXV”) and qualifies as an “Exempt Transaction” under TSXV Policy 5.3. Jourdan is not paying any finder’s fees in connection with the acquisition.

Rene Bharti, chief executive officer of Jourdan, stated, “We are very pleased to announce this strategic acquisition of the additional claims, which borders our current land position. We anticipate that pegmatite showings with spodumene (lithium-bearing pyroxene) occurrences that we identified on our current properties extend into these newly acquired areas.”

“We are very pleased to have added a complementary land package to the east of our flagship Vallée project,” said Dr. Andy Rompel, Jourdan’s executive chairman. “The strike of our known pegmatite swarm aims towards these newly acquired claims and we are very enthusiastic to explore these in the new year.”

About Jourdan Resources Inc.

Jourdan Resources Inc. is a Canadian junior mining exploration company trading under the symbol “JOR” on the TSX Venture Exchange and “2JR1” on the Stuttgart Stock Exchange. The Company is focused on the acquisition, exploration, production, and development of mining properties. The Company’s properties are in Quebec, Canada, primarily in the spodumene-bearing pegmatites of the La Corne Batholith, around North American Lithium’s producing Quebec Lithium Mine.

For more information:

Rene Bharti, Chief Executive Officer and President

Email:

Phone: (416) 861-5800

Cautionary statements

This press release contains “forward-looking information” within the meaning of applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, statements with respect to the Company’s belief that previously identified pegmatites extend onto the Claims and the Company’s ability to explore the Claims in the new year and to execute its business plan. Generally, forward-looking information can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved”.  Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Jourdan to be materially different from those expressed or implied by such forward-looking information, including but not limited to: receipt of necessary approvals; general business, economic, competitive, political and social uncertainties; future mineral prices and market demand; accidents, labour disputes and shortages; and other risks of the mining industry. Although Jourdan has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. Jourdan does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.